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NCB beefs up Internet presence with brokerage service

After working extensively with Accenture, one of Saudi's largest banks goes live with its online brokerage service.

National Commercial Bank (NCB) has upgraded its online banking services with the addition of an online brokerage service. The project, which was completed with the help of Accenture, makes NCB the first bank in Saudi to offer Internet brokerage.

“AlAhliBrokerage.com is the start of an exciting era for NCB and for investors in the Kingdom of Saudi Arabia,” said Sami Al-Nwaisir, head of international brokerage at NCB.

“Global markets will now be as accessible as local markets. Saudi investors can explore a variety of new opportunities, generating prosperity in the Kingdom by allowing new forms of capital growth. We worked with Accenture to make AlAhliBrokerage the reliable and secure way for our customers and other investors to become players in the digital economy,” he added.

Accenture worked with NCB to define a business case and strategy for creating online brokerage. The work included defining the organisational requirements and system capabilities. The NCB partnered with Pershing Division of Donaldson, Lufkin & Jenrette Securities Corporation, to offer the brokerage service.

The AlAhliBrokerage service is designed to meet the growing local demand for direct trade and investment in international equity markets. The service intends to help investors make informed investment decisions through online access to research, news and stock quotes, as well as enabling them to conduct trades.

This service is available to NCB customers and non-NCB customers.

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